This Floater Fund Has Given Better Than Its Category Average Returns, Check Portfolio

Floater funds invest at least 65 percent of their assets in floating-rate securities issued by corporations or the government, or use derivatives to convert fixed-rate securities to floating. A coupon on a floating rate bond is related to a benchmark rate, such as the repo or three-month T-bills. The coupon is changed regularly to account for changes in interest rates. One such floater fund we have given insights. This fund has given good returns over the years.

ICICI Prudential Floating Interest Fund - Direct Plan-Growth

This is a Floater mutual fund scheme from ICICI Prudential Mutual Fund, it was launched on 17 November 2005. It has Rs 15030.56 crore worth of Assets under Management. The recent declared NAV of this scheme as of 31st march 2022 is RS 360.6605. 0.59%, which is higher compared to the 0.3% Average returns.

It is an open-ended medium-sized fund that tries to generate income by investing primarily in variable-rate securities while preserving the best possible combination of return, safety, and liquidity.

It is a Moderately risky fund for investment. It has given relatively weak performance among peers. The has been rated 1 star by CRISIL. This fund's minimum required amount for investment is low. You only required Rs 500 for lump-sum investment and Rs 100 for SIP investment. 

Absolute And Annualised Returns

Lump-Sum Investment Returns

Since its launch, it has delivered 8.43% average annual returns.

Investment Period	Absolute Returns	Annualised Returns
1 Year	4.76%	4.76%
2 Year	14.01%	6.78%
3 Year	24.01%	7.42%
5 Year	43.24%	7.45%
Since Inception	111.42%	8.43%

SIP Returns

SIP Period	Absolute Returns	Annualised Returns
1 Year	1.91%	3.55%
2 Year	5.33%	5.08%
3 Year	9.92%	6.24%
5 Year	19.58%	7.09%

Portfolio

The fund has a debt investment of 97.35 percent, with 68.84 percent in government securities and 28.51 percent in funds with extremely low-risk securities.

The fund's credit record is excellent, suggesting that it has lent to high-quality customers. Because most funds in this category lend to stronger borrowers, the risk of default is higher in this fund than in others in the category.

Government of India, State Bank of India (SBI), Motherson Sumi Systems Ltd., Embassy Office Parks REIT, and SRF Ltd. are among the fund's top holdings.

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related documents, and Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.